OTTAWA, ON – (May 12, 2017)– BetterU Education Corp. (TSX VENTURE: BTRU) (FRANKFURT: 5OGA), (the “Company” or “betterU”) is pleased to announce a non-brokered private placement to raise a minimum of $3,000,000 and maximum of $5,000,000. The financing will consist of a minimum of 5,454,600 Units at $0.55 per unit. Each unit consists of a Common share and a ½ warrant (“Unit”). Each full warrant can be exercised for one year at a price of $0.80.
A finder’s fee of 7.5% in cash and/or 7.5% in warrants may be paid on a portion of the private placement.
The proceeds will be used for working capital purposes including, but not limited to, the expansion of betterU’s contact center and support resources, increase in technology development and support teams, the expansion of betterU’s office infrastructure and technologies as well as the increase in the management team in order to support the ramping up of betterU’s growth opportunities in India.
This financing and all securities proposed to be issued thereunder are subject to the acceptance of the TSX Venture Exchange. All securities issued under the private placement are subject to a four month and one day hold period from date of issuance.
“Industry leaders are focused on bringing together global partners that can help support and service the IT-ITes industry, including the individual training learning needs of the mass market. While betterU has all the right ingredients to support these leaders, it requires support in its infrastructure, team and technologies to meet the growing needs of the country.”, says Bradley Loiselle, President and CEO of betterU.
betterU, an online education technology company, aims to provide access to quality education from around the world in order to foster growth and opportunity to those who want to better their lives. The Company plans to bridge the prevailing gap in the education and job industry and enhance the lives of its prospective learners by developing an integrated ecosystem. betterU’s offerings can be categorized into four broad functions: to compliment school programs with flexible KG-12 programs preparing children for their next stage of education, to foster an exceptional educational environment by providing befitting skills that lead to a better career, to bridge the gap between one’s existing education and prospective job requirement by training them and lastly, to connect the end user to various job opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
betterU cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, betterU’s forward-looking statements due to the risks and uncertainties inherent in betterU’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. betterU does not assume any obligation to update any forward-looking statements except as required by law.
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Bruce Chick, MBA
VP Corporate & Investor Relations
1-613-695-4100 Ext. 233